The Real Deal New York

Numbers to know: Long Island City’s new dev rentals rival Manhattan prices, 225 Rector is almost sold out … and more

October 04, 2013 03:23PM
By Hayley Kaplan

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225 Rector Place

225 Rector Place

“Numbers to know” is a weekly web feature that catalogues the most notable, quirky and surprising real estate statistics. Long Island City’s new development rentals are nearly as expensive as Manhattan’s, after a very long road 225 Rector is nearing the sold out mark, and the government shutdown could impact construction workers.

$6.175 million
Average closed sales price in the past year of co-ops at the Sherry Netherland, which currently has a $95 million apartment on the market [CityRealty]

$1.85 million
Asking price of actor Stanley Tucci’s South Salem, N.Y., home, which he purchased for $1.425 million in 2005 [Zillow]

$2,294
Average asking rent for a studio apartment at new development rental buildings in Long Island City, Queens; the average rental price of a studio on the West Side of Manhattan was $2,356 in August [Marketing Directors and Miller Samuel]

694

Apartment listings in Manhattan that increased their asking prices while still on the market, an 8.4 percent year-over-year increase [StreetEasy]

90
Percentage of condos at the Related Companies’ 225 Rector Place that have sold since sales launched in March 2008 [Press Release]

75
Percentage of units leased at Ben Shaoul’s 81-unit luxury rental building Bloom62 at 62 Avenue B; the building began listing units in June [Press Release]

72
Percentage of real estate agents nationwide who said that now is a good time to sell a home, down from 86 percent in the second quarter of 2013 [Redfin]

53
Percentage of Class A commercial inventory in Manhattan that was built prior to 1980 [Cushman & Wakefield]

7
Stories at 225 Columbia Street in Brooklyn, which launched sales this past week; the boutique new development will house just two units per floor [Press Release]

Unknown
Total U.S. construction spending in August, which is tracked by a federal agency shuttered by the government shutdown [Associated General Contractors of America]

  • Ed

    Re: 225 Rector:

    Taking 5 years to sell 90% sounds like a shame, not something to brag about.

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